Nasdaq-listed Tiger Brokers will release online crypto trading to Hong Kong
Investors continue to embrace new ways to trade cryptocurrencies as Hong Kong-listed Nasdaq-listed Tiger Brokers rolls out cryptocurrency support on its Tiger Trade mobile and desktop apps.
According to an announcement shared with Cointelegraph, professional investors can access 18 cryptocurrencies, including Bitcoin (BTC) and Ether (ETH), along with stocks, options, futures, US Treasury bonds and other global assets.
Listed on Nasdaq since 2019, Tiger Brokers has partnered with Hashkey Exchange to provide professional investors with access to cryptocurrency trading.
The facility will initially be available to professional investors in Hong Kong. This includes residents with investment portfolios worth more than HK$8 million ($1 million) and corporate entities with assets of more than HK$40 million ($5 million).
The company plans to extend its cryptocurrency trading service to regular retail investors, which requires regulatory approval. Tiger Brokers also indicated that it is considering increasing cryptocurrency spot withdrawals and deposits.
Don't forget Bitcoin ETFs
Investors seeking direct and indirect exposure to cryptocurrencies can also access funds traded into the Bitcoin space through the platform.
Tiger Brokers also has US-listed Bitcoin ETFs and recently Hong Kong spot trading of Bitcoin and Ether ETFs on Tiger Trade.
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This creates another way for investors to access these ETFs, which have had varying degrees of success since their launch in the US and Hong Kong.
The ETF finally hit the Hong Kong markets on April 30, but the $12 million first-day trading volume paled in comparison to the $4.6 billion in trading for Bitcoin ETFs in the United States in January 2024.
Is mainland China waiting?
However, Hong Kong-based Bitcoin and Ether eETFs attracted more than $200 million in total assets in the first place. According to data provided by Arkham Intelligence, Bocera Hashkey Space Bitcoin and Ether EFF holds 964 bitcoins, with total assets under management of $71.94 million.
Meanwhile, Bloomberg's senior ETF analyst Eric Balchunas said spot bitcoin and ether ETFs created by China AMC generated a combined $123.61 million in assets as of April 30.
Potential appeals to Hong Kong Bitcoin and Ether ETFs in mainland China have arrived, according to industry experts in Asia.
Cointelegraph previously reported that Siz Capital managing partner and BTC investor Richard Byworth suggested that these Hong Kong-based crypto ETFs could be connected to the Shenzhen-Hong Kong Stock Connect.
The cross-border investment infrastructure connects the Shenzhen Stock Exchange and the Hong Kong Stock Exchange, allowing investors, brokers and houses to trade stocks on these two markets.
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